Precious Metals Preview: COMEX gold recovers above $4200 mark in early Asia

COMEX gold futures recovered back above $4200 mark on Wednesday morning in Asia as mild pull back in dollar and treasury yields provide some cushion to the yellow metal. However, markets will stay cautious ahead of a slew of US data lined up this week, including Q2 GDP, US PCE, PMI and non farms data. Speeches from influential FOMC members will be looked upon for more cues about the US central bank's future policy path. Currently, the metal is quoting at $4205 an ounce while silver is trading at $61.34. On the MCX, Gold Futures (rebounded slightly, trading 0.64% higher at ₹1,49,810 per 10 grams. This brings temporary relief following a sharp multi-day slump down to the ₹1,46,200 range earlier this week.

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